Study Flashcards
Great Depression
A period lasting from 1929 to 1940, in which the U.S economy was in severe decline (crash) and millions of Americans were unemployed.
Black Tuesday
A name given to October 29, 1929 the devastating day the stock market crashed and prices fell sharply causing millions of dollars to be lost in just one day.
Shantytown (Hoovervilles)
An area of the city in which people live in shack neighborhoods made by them with whatever materials they could find.
Dust bowl
The region of the U.S. (Texas, Oklahoma, Kansas, Colorado, and New Mexico) that was made worthless for farming by huge dust storms brought by abandoned farms, drought and high winds.
Bonus Army
A group of WW1 veterans and their families who marched on Washington D.C in 1932 to demand immediate payment of a bonus they had been promised for military service.
Hawley-Smoot Tariff Act
A law, enacted in 1930, that established the highest protective tariff (tax) in U.S. history, worsening the depression in America and abroad.
Direct Relief
The giving of money or food by the government directly to need people (Federal Relief Administration)
Deficit Spending
When the government spends more money than it receives in taxes
Federal Home Loan Bank Act
A law enacted in 1931 that lowered home mortgage rates and allowed farmers to refinance their loans and avoid foreclosure
Civilian Conservation Corp
An agency established as part of the new deal that put young unemployed men to work building roads, developing parks, and planted over 200 million new trees in an effort to to combat the dust bowl.
Agricultural Adjustment Act
A law enacted in 1933 to raise crop prices by paying farmers to leave a certain amount of their land unplanted, thus lowering production
National youth administration
An agency that provided young Americans with aid, specialized training and employment during the Great Depression.
Social Security Act
A law enacted in 1935 to provide aid to retirees, the unemployed, people with disabilities, and families with dependent children.
Federal deposit insurance corporation
An agency created in 1933 to secure individuals bank accounts, protecting people against losses due to bank failures and giving confidence to once again trust banks with their money.
Securities and Exchange commission
An agency created in 1934 that monitors the stock market and enforces laws regulating the sale of stocks and bonds.
Work progress administration
An agency set up by the second new deal that provided the most jobs of any other agency for the unemployed in construction, garment making, teaching, the arts, and most responsible for putting people to work.
